Price trend

According to SunSirs data, seamless tube prices rose before falling last week. By the weekend, the price of 20#, 108*4.5 seamless tube was 4,100 RMB/ton, up 0.06% from the beginning of the week and down 1.09% year-on-year.

Analysis review

The market price of tube billets had risen last week. The ex-factory price of 20# hot rolled tube billets was 3,310-3,430 RMB/ton.

The expected interest rate cut was realized, and the situation did not exceed expectations. The ex-factory prices of tube factories were secretly reduced due to lower-than-expected order intake. Some tube factories may plan to schedule production and maintenance, which had eased supply pressure.

Market outlook

Downstream construction companies were adopting a wait-and-see approach. With September approaching, demand hasn't improved. Despite the recent shutdown of Xinyegang for maintenance, price increases have been muted. It is expected that seamless tubes will operate relatively steadily in the short term.

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